Tuesday, February 6, 2018

Global licenses set for seafloor mining

Currently in the world around 27 licences are either granted or set to be granted for seafloor mining around the world.

That was the update presented by Nautilus Mineral’s CEO Mike Johnston when asked on global progress in seafloor mining around the world, in response to PNG taking on actual mining as a first for the globe.

“Some people say there aren’t others doing it but they are. There is something like 1.4 million square kilometers of granted licenses at the moment on the sea floor. That is a significant amount on land.

“There is more copper on the sea floor in the Central Pacific Ocean then all the reserves know on land and the grade is almost twice the reserves on land,” he said.

Mr Johnston said it is because of this known fact that a number of countries are looking at sea floor mining, with majority of companies have their licences granted in international waters.

“The Chinese government has two licences granted, the Japanese Government has licenses in international waters and testing looking to grant licence in its own exclusive economic zone.

“Japan haven’t granted any licenses there over 10 years while the government has been doing its own research,” he said.

He said South Korea has its own licence, along with India and Germany. The list also includes, French, British and the Singapore government also.

“There is a consortium of east European nations that have a licence, that includes Poland and Czechoslovakia.

“Twenty licenses granted in international waters so it has been growing significantly,” he said.